Harmonise Your Customer Journey with LexisNexis Risk
Adam Doyle, Head of Gaming at LexisNexis Risk, wraps the key takeaways from the recent iGF Breakfast Club event in the City of London–sponsored by LexisNexis Risk– on “Harmonising the Customer Experience”.
Simplicity, out-of-industry learnings, cross-communal synergies, responsible gaming, safeguarding, progressive use of innovative data and a keen focus on a target market are the key to success, experts and thought-leaders concur, writes Adam.
But there’s still a long and challenging road to travel on the journey to a frictionless customer experience, he underlines.
As Ian Ince, Head of Compliance at Playtech, said at the recent iGamingFuture Breakfast Club: “Customer harmonisation means lots of different things to lots of different people.”
However, to the customer it only really means one thing – an instant seamless experience; whether that’s setting up a new bank account, purchasing a new product or placing a bet online.
Removing friction is a constant uphill battle. And we are always one step behind customer expectations, as technology advances in one industry, customers demand the same experience across all industries.
“Simplicity is everything. People are doing this for fun. If it stops being fun, they will drop out.” Kathy Griffin, CRO at Target Group
I wrote at length in my previous blog – link – about how similar the gambling and banking industries are, BUT, one of the main differences is the innovation.
Generally speaking, I’d say the gambling industry has some way to go before we reach the frictionless customer experience we see provided by some challenger banks.
One reason for this, that Ian shared, was that our industry can be very tight-knit. We often see the same faces moving around, which is great as it builds lifelong friendships. But this doesn’t always help us to drive innovation. It’s important that we look around at other industries when we are hiring and learn from different best practices, technologies and workflows so we can bring these into our community as well.
Personally, I think another challenge comes from different priorities. Gambling operators have a huge responsibility to identify and protect vulnerable players, to prevent harm and addiction. This means more checks at onboarding and throughout the journey.
However, this doesn’t mean that it’s impossible to provide a seamless experience to our customers.
Good data is the key.
There are a few questions we have to ask when we talk about data…
- Do we have access to quality data?
- Are we harnessing the data in the right way?
- Are we optimising how we use it?
- Is it all in one place?
The operators that access the best data, use it correctly and deliver the best experience are going to have better acquisition rates, better retention rates and better customer relationships.
Embracing the vast amount of new data and technology on the market, such as transaction or behaviour monitoring or voice analytics, can help you to tailor the customer journey to their mood, preferences and habits. Creating journeys with the customer in mind helps inform internal teams on which applications to focus on.
“Build brand awareness by focussing on a target market, tailoring your service to meet the demands and needs of individual clients.” Kathy Griffin
I talk a lot about creating a personalised customer journey and I have always looked at it from a regulation, jurisdiction and risk level point of view; performing the checks you need with the lowest friction, and fewest possible clicks for the customer.
But as an industry, maybe we need to shift priorities, and rather than focus on what we have to do to deliver a low-friction customer journey, we need to start looking around to see what we CAN do to deliver the best experience to our players. There are a lot of different innovative new players in the market, delivering new solutions to the usual problems. Welcoming these new technologies will be crucial to future success.